laguna33p

You are spot on. Its a young industry and im sure it will flourish. I may be silly to re-sell now when i know i can re-sell for higher when its complete. Time will tell. However I also believe people can get greedy in a growing industry and i believe this has already started showing in IC Phase 1 where maintenance charges are ridiciously high (double what was mentioned in contracts) and you dont get the keys to your apartment unless you pay all the DEWA connections (gas/electric) up front.

You mention about your studio being empty in the UK for 4 months. One thing is though, you bought that property here in the UK where you know where you stand and you know the law. In Dubai, it seems you pour all your money into their pockets and they turn their backs on you when its time to answer questions. My gut instinct was that if this is the service i am getting at this stage, then i dread to think what will happen when its completed.

I am going to meet my contact at Al Attar (the developer for Global Point, Toronto and Vancouver Towers in IC Phase III) personally this month on the 27th and 28th of Feb to sign my forms for re-selling my apartment . I will definitely mention how i feel about their customer service levels .

if anyone has any issues, let me know, ill make a list of questions, print it out and get answers for you all. This is only for projects Global Point, Toronto and Vancouver Towers in IC Phase III.

ikqureshi,

I have purchases in a 1B in Vancouver Tower. I too am getting increasing frustrated with it all ... I'd be grateful if you could get an answer to whether this tower is going to be delayed, if so, by what sort of timescale.

I too am seriously thinking about sellinging mine but not sure how I should go about doing that, as I brought though agents DPL (Dubai Proerty Link). Perhaps you could shed some light on this aswell.

Much appreciated.

9009Ali

Al attar have blamed delays on Nakheel altering the master plan for IC Phase III to include more landscaped parks. This is fine, however, you need to check their website for periodic updates on this project. They will tell me this again and again. I will be sure to ask them though. Check out...

Al Attar Properties

Click on the blue newsletterss heading, "September 2006" which will give you the last update from them.

The frustration is that they dont know how to handle customer service. I have sent some very blunt emails to al attar and only then did they call me back.

I am beginning to think a lot of people are getting frustrated and dont know how to progress. My plan was to re-sell before its late. You wont make a lot of money but at least your free from the hassle of a property abroad.

Good luck.

Hi
Thanks for sharing your experiences. i am considering pulling out of my prurchase in IC ph3. have you heard anything about park lane

Hi Purple,

Dont Rush For Reselling Because It Makes The Price Cheaper .
I Am In The Same Boat I Have Purchased In Toronto Tower But I Feel Better Future.

Bye

I spoke to my contact at Al Attar yesterday. The project has been confirmed as delayed by up to 12 months. This is, as i posted before, because of alterations to the Master Plan drafted by Nakheel. What this means now is that i believe Al Attar should delay their payment schedules to coincide with these delays but i doubt they would. In my opinion, delays will mean a lot more properties will enter the market at the same time which could impact the re-sale price for those wanting to sell after completion.

If we delay the payments, will they come back with reminders. For the last one and a half year, I neither got a reminder nor a thank you note for paying on time.
As per the agreement, if this delay is due to "Force Majuere" (infact it is), the delay in payments will be legitimate.

Sorry to here about your delay Mansoor Alam
ikqureshi The reason you were told sounds like a cop out as my I.C. has been delayed around a year with no explanations and I am in Phase 1. nakheel has known for a long time that the projects would not be out on the published time

You will have a hard time proving Force Majeure some examples here
Facts are virtually NO PROPERTIES come on line in the advertised time line.
There are STILL many projects being sold off the plan when the developers and the Agents both no there is a delay however they are not advertising this for obvious reasons.

As I have mentioned before you have a problem here that is not yet covered by legislation to protect the consumer, that is there are virtually no consumer protection laws in Dubai.

Developers can and do advertise glossy brochures with claims that give the purchaser the impression the development will be surrounded by greenery or water when the end result will be very different.

To sum it up there are delays in all building projects in Dubai, just that many are not advertised.

Hi all,

I went to site on 2nd Feb, only sewerage pipeline work started. I spoke to some one in AL-Attar group ,they said they have invited tenders from contractor and project will be awarded in march. I am sure all these three buildings G.P., T.T & V.T. will be ready in march 2008.

Almost same situation for other projects in ph.3. However acc. to my exp.its wise to hold investment for 1 yr. I am sure we can get good return.At present price is intl city ph.1 , studio is 330k & 1 br 430k approx,ready to move in,all nakheel product.Whereas ph.3 appartments are far batter than nakheel and excellent infrastructure in ph.3

Good luck

V.K.Jain
(living next to intl city in dubai)

Thanks Wayneis for an enlightened explanation. I am still hopeful that it will be a fruitful investment. But the Developer must bear some penalty, like payment re-scheduling in case of delays.